Household HSBC Watch

In a lesson plan, designed to teach about predatory and subprime lending, we asked this question of students in 2005: “What is the impact on a country’s economy if predatory lending is left unchecked?” Three years later the answer is clearly obvious. As of today the world has seen over $515 billion […]

Seen in the comments section of Market Watch: “Companies like HSBC should be run out of town. They are crooks. Try getting them on the phone about an error. I hope they go broke.” The article is titled “Wednesday’s Personal Finance stories” and the actual web page is titled “credit-card gripes grow, but […]

It is one thing to buy a predatory lender — Household International — but quite another to cotinue the business practices almost unchanged. HSBC is still one of the biggest subprime lenders in the United States. As a result, lawmakers sent a letter to HSBC asking the lender and mortgage servicer to help […]

Here at Household - HSBC Watch we receive complaints every day. Some involve pre-payment penalties on home loans that trap the buyer, preventing refinancing or otherwise putting the buyer upside down in the home. That may soon change according to Federal Reserve Chairman Ben Bernanke.

“Although the high rate of delinquency has a number […]

Adjustable rates will reset this summer and fall. The timing reflects the height of subprime lending in the summers of 2005 and 2006, when many borrowers secured loans scheduled to adjust in two or three years. For many, an adjustment means their interest rate will go up two to three percentage points. HSBC […]

HSBC, the bank that offered a “rescue” mortgage deal to help homeowners facing surging repayments, is hitting the same borrowers who take up the deal with arrangement fees of up to £9,999. It has emerged that after an increase last Wednesday in the fees charged for taking out the deal, the maximum fee for […]

HSBC Finance is a nationally known subprime lender. At the onset of United States mortgage problems HSBC Finance had few, if any, prime FHA insured loan packages. Casting caution to the wind HSBC loaned to almost anyone. While HSBC was not the only subprime lender, nor the only mortgage lender to suffer […]

We like developing nations, said HSBC. It is a matter of risk and reward, or as others see it, less risk because laws are less stringent. HSBC is not doing well in Korea, as the acquisition of KEB stalls. Charges of KEB Card stock price manipulation, links to the United States through […]

Major mortgage lenders have agreed to streamline and speed up the process for assisting distressed homeowners, according to new guidelines set to be released today (June 17, 2008). We will monitor complaints in relation to promises. Under the guidelines, the lenders would acknowledge a borrower’s request for help within five business days and […]

HSBC leaders in the UK think the U.S. subprime disaster has subsided. Mr. Geoghegan acknowledged that some homeowners are still having difficulty repaying their mortgages, and the situation in the U.S. is complicated by market volatilities resulting from the upcoming presidential election and inflationary pressures. Presidential election? How about a doubling […]